Oh I know Gary. In 7 years I would pay twice the premiums. Its a lose -lose situation it looks like.
Larry my late husband worked for the USPS which is civil service. I still have the health insurance, which costs me three times as much as when he was alive, but they offered no life insurance for annuitants.
I did see that AARP thing and was going to pay the 13 bucks to join so I could get the LI but I noticed in small print it said "contingent on three questions." One is probably
1. Are you alive?
and
2. Do you have cancer?

I'm 28 so hadn't even considered it until it was "too late". I wonder if, assuming I beat the cancer, I'd be able to get a reasonable policy 5 years down the road. I won't hold my breath.

By pure luck, I happened upon an old issue of Consumer Reports when cleaning my office. It's the June 2004 issue (for those that want to go to the archives at the library) Page 51-CR-money, and the article is titled "Insurance for those who are ill"

"If you are diagnosed with a chronic medical condition, you know that you may have difficulty buying health insurance. But buying life, disability or long-term-care coverage may be a greater challenge. Most insurance companies refuse to enroll people with serious conditions such as AIDS, Lou Gehrig's disease, or terminal cancer because their life expectancy is short, requiring the insurer to pay benefits sooner rather than later."

The article goes on how to find insurance "..try getting coverage through an impaired-risk insurance agency. It locates companies that sell insurance for people with chronic conditions. An agent first gathers your medical history and then gets policy quotes from carriers that offer high-risk plans. The agent should provide multiple quotes so you can choose the best deal."

"Depending on the severity of your condition, you can expect to pay two to three times more than a healthy applicant for term-life insurance, a policy that pays a death benefirt but does not build up cash value like a more expensive whole-life plan."

"There's no easy way to find an impaired-risk agency. You can search for one online under 'impaired risk insurance' to find an agency in you area."

This is a one page article. I am just posting the most important stuff from it.

BTW, the article goes on to say that once you have insurance you can reduce your premiums by documenting any improvements to your health. "Some insurers will consider you for coverage if it has been more than six months since your diagnosis. High risk insurers Guarantee Trust Life and Keytone Brokerage, for example, will consider you for coverage six months to one year after a heart attack, stroke, or cancer diagnosis. If you can document that your health has improved over time, you may also reduce your costs."

Jen

Thanx Jen. I will check that out asap.
Hugs!
Barb~

Barb,

There are a few options. There is one policy that a friend of mine had that was sold to cancer patients but it wouldn't pay until after the 3rd year of survival. It was about $75/month and paid $100,000. Unfortunately, he only made it 2 years and 3 months. I was quoted a policy a month after finishing treatment, they took my money and then a month later they sent it back saying they would reinstate it after 2 years in a high risk pool for 2 years. I will be elligible OCtober 8 this year and plan to pursue it. It was about $60/month for $100,000.

Another option is to find a job that offeres a group plan. In most cases, when you start working for a company you are elligible in their group plan and can get a certain amount without any medical questions. It is usually capped at $50,000 or $100,000.

There are also viatical companies as Bob suggests that will pay cash for your policy provided you have a terminal diagnosis or a serious diagnosis. They usually pay 30% of the face value or less.

Ed

You know what? I am considering just saving and investing. Surely investors aint gonna ask if I have cancer. I just want to see that my kids do not have to pay for my casket ya know? Man I cannot believe sometimes how stupid I am. I have that "human condition" that says "It can never happen to you," How wrong I was.